ED arrests Sadhna Group MD over money-laundering allegations: Who is Rakesh Gupta? What’s the ₹168 crore case?
Sadhna Group founder Rakesh Gupta has been arrested in an ED money-laundering case. Investigators allege that about ₹168 crore in proceeds are involved.
Dr. Rakesh Gupta, the chairman and managing director of Sadhna Group, has been arrested by the Enforcement Directorate (ED) on allegations of money-laundering, according to the source. The ED has estimated the alleged proceeds at approximately ₹168 crore. Gupta, who is 63 years old, founded and serves as the chairman and managing director of the Delhi-based Sadhna Group, which operates media channels such as Sadhna TV, Ishwar TV, Sadhna Plus News, and Har Khabar.
The ED investigation stems from a Delhi Police FIR registered on September 29, which includes allegations of cheating and criminal breach of trust. The ED claims that Gupta arranged Sadhna Media Pvt Ltd's insolvency through connected creditors, who held 99.41% of the committee of creditors. The agency also alleges that the company paid ₹4.48 crore to these connected creditors, including ₹2.99 crore to Gupta's company, Sharpline Broadcast Ltd. The ED further alleges that cash receipts of ₹2.50 crore to ₹2.82 crore allegedly came through USDT and hawala channels during SMPL/Aryan TV's resale.
The group also faces a SEBI order concerning alleged share manipulation, with Gupta held liable for about ₹58 crore. The court granted Gupta five days' custody, considering his age and the specific tasks of the investigation. Gupta must appear in court again on October 15 by 4 PM.
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